We will help nations measure nature just like GDP, says World Bank

The World Bank yesterday launched a programme to help nations put a value on nature just like GDP in a bid to stop the destruction of forests, wetlands and reefs that underpin businesses and economies.

The five-year pilot project - backed by India, Mexico and other nations - aims to embed nature into national accounts to draw in the benefits of services such as coastal protection from mangroves or watersheds for rivers that feed cities and crops.

World Bank president Robert Zoellick said: "For economic ministries in particular, it's important to have an accounting measure they can use to evaluate not only the economic value but the natural wealth of nations. It's not a silver bullet. It's a way of trying to help people understand better in economic terms the value of natural wealth."

More than 100 ministers are in Japan to discuss the project.